Talent management refers to the additional processes and opportunities that an organization makes available strategically to a pool of people who are deemed to have talent. (The point is that if talent is not identified and managed by the entire management team—not only the human resource management unit, talent may just as well be defined as a dormant or untapped quality to be accessed in the future, either in an individual or in the collective.)
PS: A Primer on Talent Management, available at https://www.researchgate.net/publication/254583127_A_Primer_on_Talent_Management, may be of interest.
I agree with all three comments above. In my experience the most valuable thing to to truly deliver talent management is that the manager of each individual should be trained to be competent in the coaching style of leadership.
However, before talent management can begin we have to choose the right talent. the current focus on qualifications and experience is asking for trouble. The first criteria should be a person's values and then their behaviours and attitude. Get that right and the rest is "relatively" easy - as long as the organisation has the right culture to nurture talent - otherwise they will leave!
Answer is citation from K. Umachandran: "Future companies will need employees with the specific Internet of Things connected additive manufacturing skills across the value stream, including computer-aided design, machine operation, raw material development, robotics and supply chain management; but these are the only island of excellence in industry 4.0 and not the consummate requirement of the manufacturing process".